Non-interested persons. A majority of a business development
company's directors or general partners shall be persons who are not interested
persons of such company.
Vacancies; suspension of provisions. If, by reason of the
death, disqualification, or bona fide resignation of any director or general
partner, a business development company does not meet the requirements of
subsection (a) of this section, or the requirements of section 15(f)(1) of
this title [15 USCS § 80a-15(f)(1)] with respect to directors, the operation
of such provisions shall be suspended for a period of 90 days or for such
longer period as the Commission may prescribe, upon its own motion or by order
upon application, as not inconsistent with the protection of investors.
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